单选题Which of the following is a recommended procedure for compliance with the Standards of Professional Conduct relating to additional compensation arrangements? Members: A. obtain written permission for only pecuniary additional compensation arrangement from their employers. B. have details of the additional compensation arrangement confirmed in writing by the party offering the additional compensation. C. make a written report of the additional compensation arrangement to their employer after completion of services for the party of offering the additional compensation.
单选题A company issued an annual-pay bond with a face value of $135662, maturity of 4 years, and 7.00 percent coupon, while the market interest rates are 8.00 percent. What is the present value of the interest payments on the date when the bonds are issued?
单选题An analyst does research about security market line (SML). With respect to the security market line, if an investor's estimated return is below the SML, a security is most likely: A. overvalued. B. correctly valued. C. undervalued.
单选题Carlos Cruz, CFA, is one of two founders of an equity hedge fund
单选题A firm issues a 4-year semiannual-pay bond with a face value of $10 million and a coupon rate of 10%. The market interest rate is 11% when the bond is issued. The interest expense for the first semiannual period and the balance sheet liability at the end of the first semiannual period are closest to: Interest expense Balance sheet liability ①A. $ 532580 $ 9683272
②B. $ 532580 $ 9715852
③C. $ 550000 $ 9683272
单选题What is the maximum price an investor should be willing to pay (today) for a 10 year annuity that will generate $500 per quarter (such payments to be made at the end of each quarter), given he wants to earn 12 percent, compounded quarterly?（ ）
单选题According to the CFA Institute Standards of Professional Conduct, beneficial security ownership that might impair one's professional judgment must be disclosed to all of the following EXCEPT: A. clients. B. prospects. C. fellow members employed at the same firm.
单选题An order to buy or sell a stock at the best current price is a:
单选题If the confidence index (CI) increases (and the implied yield spread narrows), investors are doing which of the following?
单选题Acompanyusesthepercentage-of-completionmethodtorecognizerevenuefromitslong-termconstructioncontractsandestimatespercentcompletionbasedonexpendituresincurredasapercentageoftotalestimatedexpenditures.Athree-yearcontractfor10millionwasundertakenwitha30%grossprofitmarginanticipated.Theprojectisnowattheendofitssecondyear,andthefollowingend-of-yearinformationisavailable:Year1Year2Costsincurreddurinoyear3,117,5002,582,500Estimatedtotalcosts7,250,0007,600,000ThegrossprofitrecognizedinYear2isclosestto:
单选题Whichofthefollowingstatementsisleastaccurate?Thestandardswerecreatedto:A.fosterthenotionofindustry"self-regulation"onaglobalbasis.B.promotetheuseofaccurateandconsistentinvestmentperformancedata.C.encouragefair,globalcompetitionamonginvestmentfirmsthroughcreatinghighbarrierstoentry.
单选题John Stone, CFA, is an investment advisor specializing in the preparation of company and industry reports for high net worth customers at Learmon Brothers. Currently, Stone is preparing a report on Soft Corporation, a rapidly growing software company. The explosive growth of this company was financed primarily by an initial public offering in which 3000000 shares were issued at a price of $ 20 per share on June 27, 2004. Soft Corporation received additional capital when employee stock options for 1000000 shares at a price of $10 were exercised on January 1,2005. Stone realizes the importance of cash flow on a company's financial health and would like to include a projected statement of cash flows for 2005. Soft Corporation financial statements are presented in Tables 1 and 2. Included are the actual statements for the year ending December 31, 2004.
单选题Ananalystdoesresearchaboutcommodityinvesting.Theanalyststatedthatreturnsfromcommoditiesusuallyhaveanegativecorrelationwithinflationandwithreturnsfromtraditionalstocksandfixedincomeinvestments.Istheanalystcorrectwithrespecttothecorrelationofreturnsfromcommoditieswith:
单选题Which of the following least accurately describes a component of
aggregate demand?
A. Consumption.
B. Net imports.
C. Investment.
单选题An analyst does research about duration and gathers the following information about two option-free bonds in a portfolio: Bond Par value Market value Duration 1 $120000 $110000 5 2 $80000 $90000 4 The duration of the portfolio is closest to: A. 4.33 B. 4.40 C. 4.55
单选题An analyst does research about calculating the expected standard deviation of returns. An investor estimates that the retum from a security over his holding period will be either 12 percent or 16 percent and that each of the two potential returns has an equal probability of occurrence. The expected standard deviation of returns for that security over the investor's holding period is closest to: A. 0.020 B. 0.028 C. 0.040
单选题Congress is concerned about delay in the effects of fiscal policy, and is considering requiring the reporting of economic statistics weekly, rather than quarterly. The new reporting period is intended to decrease the.
单选题Are the following statements about assessing credit risk true or false? Statement 1: From a lender' s perspective, higher margin volatility is for floating-rate debt but not for fixed-rate debt. Statement 2: Product and geographic diversification should lower credit risk. Statement 1 Statement 2 ①A. False True ②B. False False ③C. True True
单选题An analyst gathered the following data on Stock A and Stock B:
单选题The face value of a $1000000 T-bill with 78 days to maturity is priced at $987845. What is the bank discount yield (annualized) quote for the T-bill?